Sports Direct buys into European retailers

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Sports Direct has also been strengthening its grip on the market in UK with sales soaringPaul Thomas/Getty

Business staff

Last updated at 1:04PM, May 29 2013

Mike Ashley’s sportswear empire is expanding on two fronts in Europe after snapping up controlling stakes in a pair of retailers on the continent.

Sports Direct International, which is controlled by Newcastle United owner Mr Ashley, has struck a €40.5 million (£35 million) deal to grab a 51 per cent share of Austria’s EAG, while paying an undisclosed sum for Sportland International Group (SIG), the largest sporting goods retailer in the Baltic region.

It is the latest stage of international expansion by Sports Direct, which already has retail interests in Belgium, France, Holland, Luxembourg, Slovenia, Cyprus and Ireland.